Athora Netherlands Strengthens Position in Buy-out Market

Athora Netherlands, through Zwitserleven, has further strengthened its position in the Dutch buy-out market for pension funds with the acquisition of the pension liabilities of Pensioenfonds Pensura. The transaction involves over 1,000 members with around EUR 235 million in invested pension assets in various pension schemes.

At Zwitserleven, members receive a lifelong guaranteed pension including an annual increase derived from European inflation. Furthermore, active members in the top-up scheme have recently started to accrue pension at Zwitserleven through a defined contribution scheme. The capital already accrued in the Pension Fund will now also be transferred to this scheme.

Pensioenfonds Pensura has provided pension schemes for a number of Diversey companies in the Netherlands since 2003. Diversey, part of Solenis, is an originally US-based company specialising in cleaning and hygiene products and services.

Following the declaration of no objection by DNB, the pension fund, under the guidance of WTW, realised the transfer immediately afterwards. With this acquisition, the pension fund will eventually cease to exist.

Trusted Partner

Annemieke Visser-Brons, member of the Executive Committee of Athora Netherlands: ‘With this transaction, we demonstrate once again that we have a strong position in the Dutch buy-out market for pension funds. With our unique focus on pensions, innovative solutions, and strong capital position, Zwitserleven is a trusted partner for pension funds in the transition to the new pension system. I thank the pension fund board for their trust and warmly welcome our new customers.’

Certainty

Berry Debrauwer, chairman of Pensioenfonds Pensura: ‘We carefully weighed all options and chose to place our pension schemes with an insurer. In doing so, the pension fund opted for certainty. After all, Zwitserleven offers our members a guaranteed pension with a wonderful inflation-following indexation. In addition, we are pleased that our members can continue to accrue a pension in the top-up scheme at Zwitserleven.’

Leading Position

Through Zwitserleven, Athora Netherlands is building a leading position in the Dutch pension market. To this end, Zwitserleven offers, among other things, innovative tailor-made solutions for pension funds looking to transfer their defined benefit and/or defined contribution schemes to an insurer as part of the transition to the new pension system. Athora Group has capital available to support this growth ambition.